Staff Economists

Alexander L. Wolman

headshot of Alexander L. Wolman

My research focuses on monetary policy and macroeconomics, in particular models of price stickiness and their implications for monetary policy.

Professional Experience

Alexander Wolman is vice president for monetary and macroeconomic research in the Richmond Fed's Research Department. He has published articles in several economics journals, including the Quarterly Journal of Economics and the Review of Economic Studies. He joined the Richmond Fed as an economist in 1996.

Education

Ph.D., University of Virginia, 1996
M.A., University of Virginia, 1993

Curriculum vitae

Journal Articles

"The Optimal Rate of Inflation with Trending Relative Prices." Journal of Money, Credit, and Banking 43, no. 2-3 (March-April 2011): 355-384.

“Fiscal Policy and Regional Inflation in a Currency Union” (with Margarida Duarte). Journal of International Economics 74, no. 2 (March 2008): 384-401.

“Steady State Equilibrium with State-Dependent Pricing” (with A. Andrew John). Journal of Monetary Economics 55, no. 1 (March 2008): 383-405.

“The Frequency and Costs of Individual Price Adjustment.” Managerial & Decision Economics 28, no. 6 (September 2007): 531-552.

“Comment on ‘Reconsidering the Natural Rate Hypothesis in a New Keynesian Framework,’ by Andrew Levin and Tack Yun.” Journal of Monetary Economics 54, no. 5 (July 2007), 1366-1371.

“The Zero Bound and the Term Structure in a Nonlinear Economic Model.” Seoul Journal of Economics 19, no. 1 (Spring 2006): 147-170.

“Real Implications of the Zero Bound on Nominal Interest Rates.” Journal of Money, Credit & Banking 37, no. 2 (April 2005): 273-296.

“Monetary Discretion, Pricing Complementarity and Dynamic Multiple Equilibria” (with Robert G. King). Quarterly Journal of Economics 119, no. 4 (November 2004): 1513-1553.

“Optimal Monetary Policy” (with Aubhik Khan and Robert G. King). Review of Economic Studies 70, no. 245 (October 2003): 825-860.

“State-Dependent Pricing and the General Equilibrium Dynamics of Money and Output” (with Michael Dotsey and Robert G. King). Quarterly Journal of Economics 114, no. 2 (May 1999): 655-690.

“Inflation Targeting in a St. Louis Model of the 21st Century” (with Robert G. King). Federal Reserve Bank of St. Louis Review, 78, no. 3 (May/June 1996): 83-107.

Book Chapters

"What Should the Monetary Authority Do When Prices Are Sticky?" (with Robert G. King). In Monetary Policy Rules, edited by John B. Taylor, 349-398. University of Chicago Press, 1999.

Second Quarter 2013

Federal Reserve Interdistrict Settlement

Alexander L. Wolman

Fourth Quarter 2011

K-Core Inflation

Alexander L. Wolman

First Quarter 2011

Housing and the Great Recession: A VAR Accounting Exercise

Alexander L. Wolman and Samuel E. Henly

Fourth Quarter 2010

Monetary Policy and Global Equilibria in a Production Economy

Alexander L. Wolman and Tim Hursey

Fall 2007

Currency Quality and Changes in the Behavior of Depository Institutions

Alexander L. Wolman, Nashat F. Moin, Andrea L. Waddle and Hubert P. Janicki

Fall 2006

Bond Price Premiums

Alexander L. Wolman

Winter 2005

Inflation and Changing Expenditure Shares

Alexander L. Wolman and Fan Ding

Fall 2003

Boom and Bust in Telecommunications

Alexander L. Wolman, John P. Hejkal and Elise A. Couper

Winter 2003

Potential Consequences of Linear Approximation in Economics

Alexander L. Wolman and Elise A. Couper

June 2011, No. 11-03

Discretionary Monetary Policy in the Calvo Model

Alexander L. Wolman and Willem Van Zandweghe

March 2009, No. 09-2

The Optimal Rate of Inflation with Trending Relative Prices

Alexander L. Wolman

April 2004, No. 04-4

An Inquiry into the Existence and Uniqueness of Equilibrium with State-Dependent Pricing

Alexander L. Wolman and A. Andrew John

December 2003, No. 03-15

Real Implications of the Zero Bound on Nominal Interest Rates

Alexander L. Wolman

August 2003, No. 03-11

Fiscal Policy and Regional Inflation in a Currency Union

Alexander L. Wolman and Margarida Duarte

October 2001, No. 01-8

The Pitfalls of Monetary Discretion

Alexander L. Wolman, Robert G. King and Aubhik Khan

October 2000, No. 00-10

Optimal Monetary Policy

Alexander L. Wolman, Robert G. King and Aubhik Khan

August 1999, No. 99-5

Does State-Dependent Pricing Imply Coordination Failure?

Alexander L. Wolman and A. Andrew John

December 2012, No. 12-12

A Citizen's Guide to Unconventional Monetary Policy

Alexander L. Wolman and Renee Haltom

Computer programs for "Monetary Policy and Global Equilibria in a Production Economy" (with Tim Hursey). Federal Reserve Bank of Richmond Economic Quarterly 96, no. 4 (Fourth Quarter 2010): 317-337.

"The Calvo Model without Local Approximation" (with Andreas Hornstein). Unpublished manuscript, April 2007.

"Synchronization and Staggering in a Model of State-Dependent Pricing" (with A. Andrew John). Unpublished manuscript, June 2005.

"The Optimal Rate of Inflation with Trending Relative Prices." Unpublished manuscript, May 2005.

"Heterogeneous Frequency of Price Adjustment" (with A. Andrew John). Unpublished manuscript, September 2003.

Contact Us

Richmond

Alexander L. Wolman
(804) 697-8262